XBRL continue their expansion around the world, and South Africa is another model to implant XBRL.
“The growth of XBRL in South Africa continued to rise when on the 1st of July 2018, the Companies and Intellectual Properties Commission (CIPC) enforced its right to prescribe the use of XBRL for financial reporting (in line with the requirements of the Companies Act). The CIPC considers XBRL the international best-practice standard for Digital Business Reporting. It confirms that XBRL is a freely available Standards-Based way to communicate business information, and that the local jurisdiction lies with XBRL South Africa.” (*Engineering news article)
